Guidelines:
Here are the MAGI phase-out ranges for tax year 2024 if you were covered by a retirement plan at work:
- Single, head of household, or married filing separately (not living with spouse): The phase-out range is $77,000 - $87,000
- Married filing jointly or qualified widow(er): The phase-out range is $123,000 - 143,000
- Married filing separately (living with spouse): The phase-out range is $0 – $10,000
If you weren't covered by another retirement plan at work, but your spouse was, and you're:
- Filing jointly: the phase-out range is $230,000 - $240,000
Does the rule (in red) apply to my situation, I have a 401k plan, while my spouse does not. Is the AGI now $230k-$240k.
